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Blavod Extreme Spirits looks set to be snapped up in the coming weeks.

The UK-based spirits producer said today (28 November) that it has received a letter of intent from an unnamed, Nasdaq-listed company that could lead to a purchase offer. The announcement, made with the agreement of the second party, did not give the name of the suitor.

The approach is an all share offer, Blavod said. At close of business on Friday (24 November), the indicative offer valued Blavod at around GBP12.83m (US$24.9m), or 17.97p per share. Should the share offer progress, then this is also the minimum value of the bid.

In September, Blavod forecast a 53% leap in overall turnover for the six months from April to September this year. The company, which is seeing strong performances from its Player's Extreme Vodka and Blavod Black Vodka brands, as well as growth in the US through its joint venture with Suntory's US arm and the launch of El Diamante del Cielo tequila, said it expects UK growth for the period to come in at 39% and US trade to rise by 61%.

Full interim results will be published in the next few days.


Sectors: Spirits

Companies: Blavod Extreme Spirits, Suntory

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